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The Rungsted Seier Capital ice rink in Denmark has been officially renamed the Bitcoin Arena in a move by co-owner Lars Seier Christensen.

Bitcoin Sponsorship Deal Marks Shift in Power

The Horsholm-based ice rink is used professionally as a hockey arena by the Rungsted Seier Capital hockey club. In an interesting twist, Saxo Bank moved aside for a “seven-digit” cryptocurrency sponsorship deal, according to Danish news outlets.

It has been suggested that the change in sponsorship from a traditional bank to a cryptocurrency brokerage foreshadows future power shifts between the two, with many wondering whether conventional banks will lose a significant amount of their influence in years to come.

Decentralized financial service providers such as bitcoin wallets are already preferred by a large group of consumers, as they can reduce banking fees significantly by removing intermediaries.

Niklas Nikolajsen is the man behind the three-year sponsorship. The Danish billionaire is a firm advocate of Bitcoin, looking to generate excitement about the cryptocurrency. He is the joint-owner of cryptocurrency trading platform Bitcoin Suisse, which will be providing the sponsorship.

According to him, the generous offer is for fun and year-end festivities.

“We have had a good year, and you would be of no worth if you cannot look beyond your nose tip and see how to contribute a little,” said Niklas Nikolajsen, translated from Danish.

Additionally, he hopes to drive Rungsted on to win first place in the upcoming Metal Ligaen, premier Danish ice hockey league. “There is still room for the first place,” he said optimistically.

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The sponsorship contract becomes effective on December 27, 2017, when the Bitcoin Arena ribbon is scheduled to be cut by Christensen and Nikolajsen. Moreover, an unmissable bitcoin logo will be etched under the ice, stretching nine meters in diameter.

Bitcoin Salaries

The name of the arena is not the only thing that will be changing in line with bitcoin this December. The hockey pucks of the season will be designed decoratively as bitcoins, and there will also be cryptocurrency payment terminals, adding to the promotion of the digital currency.

In a hallmark event, one of Rungsted Seier Capital’s top players has opted to be paid in bitcoin, the first professional athlete ever to do so.

“It’s really exciting to be allowed to be a pioneer with this,” said Nikolaj Rosenthal, the player in question. He recently began trading different cryptocurrencies and has shown a substantial amount of faith in their future by accepting his salary in bitcoin. According to Rosenthal, other members of the team may follow suit by requesting the same arrangement.

Just as a safety precaution, however, Bitcoin Suisse has offered him a structure to prevent income loss should the cryptocurrency’s value suddenly drastically decline.

Payam Samarghandi, a specialist cryptocurrency lawyer at Horten law firm, has looked into bitcoin as a salary remuneration. According to him, a cryptocurrency payroll would be processed no differently to a payroll conducted in fiat currency, and the same tax law would apply.

With the Bitcoin Arena generating worldwide interest, there is a good chance that there will be more athletic facilities and public buildings dedicated to bitcoin in years to come.

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